* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, September 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Industry partner provides Ferris State Plastics Engineering Technology students with state-of-the-art equipment to gain in-demand skills – Ferris State University

    Industry Partner Equips Ferris State Plastics Engineering Students with Cutting-Edge Technology to Boost In-Demand Skills

    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Industry partner provides Ferris State Plastics Engineering Technology students with state-of-the-art equipment to gain in-demand skills – Ferris State University

    Industry Partner Equips Ferris State Plastics Engineering Students with Cutting-Edge Technology to Boost In-Demand Skills

    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Australian retail turnover plunges by 0.8 pct in June

July 31, 2023
in Business
Australian retail turnover plunges by 0.8 pct in June
Share on FacebookShare on Twitter

In a concerning development for SMEs across Australia, retail turnover took a sharp nosedive of 0.8 per cent in June 2023, according to the latest figures released by the Australian Bureau of Statistics (ABS). 

This comes on the heels of a brief respite with a 0.8 per cent rise in May 2023, and a slight setback of 0.1 per cent in April 2023. The ABS report reveals that the retail landscape is facing tough hurdles, posing challenges to SMEs’ growth and sustainability. The overall dip in consumer spending during end-of-financial-year sales is being attributed to the prevailing cost-of-living pressures that continue to burden consumers.

Australian retail turnover plunges by 0.8 pct in June

Ben Dorber, the head of retail statistics at ABS, expressed his concerns, stating, “Retail turnover fell sharply in June due to weaker than usual spending on end of financial year sales. This comes as cost-of-living pressures continued to weigh on consumer spending.”

In particular, all non-food industries experienced declines, with department stores suffering a significant 5.0 per cent fall, followed closely by other retailing and clothing, footwear, and personal accessory retailing, both experiencing a 2.2 per cent decrease. Even household goods retailing saw a dip of 0.1 per cent, marking the eighth monthly fall in turnover over the past year.

The mixed performance in food-related spending is also noteworthy, with cafes, restaurants, and takeaway food services experiencing a 0.3 per cent decrease, while food retailing saw a slight 0.1 per cent increase. However, the growth in food-related spending over the past year was primarily driven by rising food prices, indicating that consumers are becoming more price-conscious.

For SMEs, these fluctuations in retail turnover are vital to monitor as they can significantly impact businesses’ revenues and profitability. The boost in May, followed by the slump in June, underscores the importance of understanding consumer behavior astrategisinging for economic uncertainties.

As the ABS prepares to release more comprehensive information on the June reference period, including quarterly price and volume data, on August 3, 2023, it becomes increasingly crucial for SMEs to stay informed and adapt their business approaches accordingly.

“Retail trade in Australia experienced a significant setback in June 2023, with a notable 0.8 pct decline, signalling a decrease in consumer spending during the mid-year sales compared to previous years,” said Anneke Thompson, Chief Economist at CreditorWatch, highlighting that consumers displayed reduced willingness to spend across various categories, except for a modest 0.1% increase in food retailing.

“Given inflation figures for food items are well above this figure, it is highly likely that volume figures even in the non-discretionary category of food will have gone backwards when quarterly trade volume data is released next week.”

Anneke pointed out that inflation figures for food items are considerably higher than this marginal growth, indicating that even in the non-discretionary category of food, volume figures may have experienced a decline. The food and beverage sector is facing significant pressure due to rising supply-side costs and falling demand, which may lead to increased wind-up activity in the restaurant and café sectors.

“The food and beverage sector is under considerable pressure at the moment, as supply-side cost pressures continue and demand falls. Unfortunately, this will ultimately result in more wind up activity in the restaurant/café sectors.

“Many non-food retail traders will now have stock overhang and inventory issues to deal with, which will likely result in further price discounting, and ultimately further pressure being taken off goods inflation. This is good news for borrowers, as the chance of further cash-rate increases has decreased on this data. However, for retail business owners, the outlook is for a very tough 12 months, as consumers cut back spending to deal with higher home loan, rent, utilities and insurance payments.”

Keep up to date with our stories on LinkedIn, Twitter, Facebook and Instagram.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Dynamic Business – https://dynamicbusiness.com/topics/news/australian-retail-turnover-plunges-by-0-8-pct-in-june.html

Tags: Australianbusinessretail
Previous Post

London businesses weather storm as domestic demand rises

Next Post

Strong hiring prospects for Australian SMEs in H2

Six Acclaimed Artists Interpret Ecology and the Landscape for ‘Ground/work 2025’ – thisiscolossal.com

Six Acclaimed Artists Interpret Ecology and the Landscape for ‘Ground/work 2025’ – thisiscolossal.com

September 7, 2025
This Stanford computer science professor went to written exams 2 years ago because of AI. He says his students insisted on it – Fortune

Stanford Professor Returns to Written Exams After Students Demand It Amid AI Rise

September 7, 2025
Tiny thumbnails may be key for rodents’ global takeover – Science News

How Tiny Thumbnails Helped Rodents Conquer the Globe

September 7, 2025
$9 Million Stock & Warrant Deal: American Trust Leads Furniture Maker Nova LifeStyle’s Strategic Offering – Stock Titan

American Trust Fuels Nova LifeStyle’s Growth with $9 Million Stock and Warrant Investment

September 7, 2025
Industry partner provides Ferris State Plastics Engineering Technology students with state-of-the-art equipment to gain in-demand skills – Ferris State University

Industry Partner Equips Ferris State Plastics Engineering Students with Cutting-Edge Technology to Boost In-Demand Skills

September 7, 2025
Former NFL All-Pro RB has top girls basketball prospect – Yahoo Sports

Former NFL All-Pro RB has top girls basketball prospect – Yahoo Sports

September 7, 2025
Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

September 7, 2025
The US Economy Is at a Turning Point—and the Stakes Are Higher Than You Might Think – Morningstar

The US Economy Stands at a Crucial Crossroads-Here’s Why It Matters Now More Than Ever

September 7, 2025
The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

September 7, 2025
Fighting a health insurance denial? Here are 7 tips to help – Los Angeles Times

7 Powerful Strategies to Beat Health Insurance Denials and Secure the Coverage You Deserve

September 7, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (812)
  • Economy (829)
  • Entertainment (21,707)
  • General (16,910)
  • Health (9,871)
  • Lifestyle (843)
  • News (22,149)
  • People (832)
  • Politics (836)
  • Science (16,040)
  • Sports (21,329)
  • Technology (15,810)
  • World (811)

Recent News

Six Acclaimed Artists Interpret Ecology and the Landscape for ‘Ground/work 2025’ – thisiscolossal.com

Six Acclaimed Artists Interpret Ecology and the Landscape for ‘Ground/work 2025’ – thisiscolossal.com

September 7, 2025
This Stanford computer science professor went to written exams 2 years ago because of AI. He says his students insisted on it – Fortune

Stanford Professor Returns to Written Exams After Students Demand It Amid AI Rise

September 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version